Asking for a Friend!

Written by Posted On Monday, 04 July 2022 00:00

The following questions are asked to provoke thought and drive you the reader, into thinking about what the reality is in your market and the correct answer or response to the question!

Asking for a friend:

“The government says we aren’t in a recession, and they don’t see one coming, is that true?"

Technically, the answer is yes & no or not yet. While first quarter GDP numbers were once again revised to the worse, from 1.5% negative growth to 1.6% negative growth for the first quarter of 2022. It is generally accepted that you need two consecutive quarters of negative growth to be in a recession, so the first second quarter report is due on July 28th so stay tuned. In any case, the economy is challenged and that is a concern.

Asking for a friend:

“I hear there is going to be a housing bubble and I should wait for both home prices and interest rates to come down before buying, is that a good idea?"

 Since my crystal ball isn’t working at the moment, here is what I can tell you about both housing and mortgage rates. While home appreciation is slowing down from recent peaks, home values are projected to rise better than 5% in the coming year and while mortgage rates are certainly higher than the recent past, we are pretty close to historic averages, and you can always refinance if rates go lower. With rents going up better than 14% a year and no cap on future rent increases, you have to ask yourself are you comfortable with 100% interest on uncapped rent increases?

Asking for a friend:

“Is it true that 40% of all homes in the US don’t have a mortgage and those that do have an average of $185,000 in equity, and are foreclosures are at a 40 year low?"


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Michael White

After 18 years working in all phases of mortgage originations, Mike left day to day originations to start his consulting and coaching company. Now, more than 18+ years later, Mike is working with clients across the country in all markets, big and small, that have generated more than three billion dollars in loan originations within a year.

Mike teaches a system that is focused on time management, action planning, marketing a message, and creating value for both clients and referral sources alike. Quite simply, providing more value leads to more opportunities, more income, less time, and a systematic approach that begs to be duplicated.


By breaking down individual aspects of the mortgage business and providing a step by step approach to creating a consistent flow of opportunities that can lead to a highly successful mortgage practice. That is why people who incorporate these strategies out produce the national averages by almost 3 to 1!

Fundamentals and simple strategies provide day to day activities that help provide a “scheduled success” philosophy. It’s all about identifying, targeting, and establishing profitable referral relationships using exceptional value to keep you in the center of your own referral triangle.

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